LIPSTICK ON A PIG??? WHO FINALLY BOUGHT THE BROOKLYN BRIDGE??

It is so local.  We are doing well in our area and actually see home prices up over the 2008 prices.  Why?  We are in a high demand area with a good local economy.  It almost seems like boom years here. The only difference is builders aren't putting a lot of specs on the ground.  Specs are there but not in great numbers.  And the builders are doing great incentives.  But the pre owneds are up in our area due to the oil boom.  Wish we could spread it around.  The average sales price for La Vernia in 2008 was $112 / sf; it is now about $120/sf for the good condition homes.  And lets not talk about rental rates which have gone through the roof

We are seeing some short sales in a couple of areas and foreclosures are up but overall we are doing well.   The short sales are either homes that have not been taken care of or in a "down" area or subdivision.   .

"Lies, damn lies, and statistics." Mark Twain told us long ago that statistics could be manipulated to prove whatever we wanted to prove... and right now it is in the administration's best interests to say that everything is wonderful.

Look at the false jobs report. Just manipulate those numbers a little here, a little there, and presto! Unemployment is down in September even while 345,000 fewer people are working.

DON'T BELIEVE THE LIBERAL MEDIA!

Thanks Lenn for a great post as usual. From the many responses, I have a good feeling that at least the RE community is educating themselves before the next election. Choose wisely my friends as this affects all our futures.

Lenn- I go to the "streets" when I want to know what's going on. I also go to Realtors who've been in the market long enough to have seen more than 3 cycles.  A very experienced Attorney told me a few years ago when people kept saying are getting better, that more foreclosures were about to come on the market and sure enough, they came.  I have some forthright Realtors here telling me that the only reason listings are down is because so many people are underwater and they can't sell. I hear that many of the houses here are being purchased by investors or those with cash.  

Most people don't understand the method or the statistics, remember, the newspapers and media talk and write at a 6th grade level so if most can't read except at that level, how does anyone expect them to comprehend what they have read?

We need to stop electing morons to Congress and to state legislative houses and elect fearless leaders who will vote to do what's right and begin moving our nation forward.  

Dear Lenn,

To quote Mark Twain, there are "liars, damn liars and statisticians ...."

If you were the incumbent running for president, what would you say?

Predictors have to predict, and analysts have to analyise. It is what they do in order to get paid. If they predict the wrong things, no one pays any attention to them.

But I do think the trend is up now. It may not be as fast or as broad as we would like, and it may still have a long way to go before we pass "go" but at least it is not still going down.

Lenn - thank you for always being there to champion the real estate community.  Amazing what the headlines say these days. We have areas that lost as much as 75% of their value, so this is really fodder for those that don't trust the experts in their area.  For a minute I thought you were going to talk about foreclosures and flipping homes!   I was ready to post my blog as a link, "Lipstick on a Pig - Always Get a Home Inspection!"  Thanks again for always being the voice of reason here!

Lenn, I could not agree with you more.  The sad thing is, they do think we are that stupid! Some people actually believe the tales being told.

Interesting that I was just looking at an infographic telling me equity has been given back to ''XX' number of people ... I was thinking what? Doesn't make sense.

Lenn- please tell that "me" person I hear 'ya and what's sickening is that all of this will probably happen again.